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DISSEMINATION IN THE UNITED STATES/
TORONTO, May 31 /CNW/ - Latin American Minerals Inc. (the "Company") (LAT: TSX-V) is pleased to report that it has closed its previously announced bought deal private placement financing with a syndicate of underwriters co-led by Maison Placements Canada Inc. and Canaccord Capital Corporation and included Pacific International Securities Inc.
The Company has issued 12,000,000 units, at a price of $1.00 per unit for gross proceeds to the Company of $12 million. Each unit will consist of one common share in the capital of the Company and one half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share of the Company until the date that is 12 months after the closing date at a price of $1.25 per common share.
The net proceeds from the offering will be used for general corporate purposes including potential future acquisitions.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Latin American Minerals Inc. is a mineral exploration company focused on the acquisition and development of exploration opportunities in South America.
The TSX-V has not reviewed and does not accept responsibility for the
adequacy or the accuracy of this release.
The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address LAT's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect our current view of future events and are subject to certain risks and uncertainties as contained in the Company's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results could differ materially from those anticipated in these forward-looking statements. We undertake no obligation, and do not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize.
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